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November 2, 2012

Advice Industry Helps With Sandy Relief

Organizations specific to the advisor industry are doing what they can to help

A number of financial service companies and related organizations are stepping up with pro-bono efforts and charitable initiatives in the wake of Tropical Storm Sandy.

“We sent a note to advisors encouraging participation in TD Ameritrade's Red Cross Donation drive,” says TD Ameritrade spokesperson Kristin Petrick. “We are giving $250,000 and will match up to an additional $250,000.”

Pershing LLC, based in hard hit Jersey City, N.J., announced on Thursday that it will contribute at least $1 million to the American Red Cross, local food banks and agencies to support basic urgent needs in the wake of the storm.

“With the U.S. markets reopened, Pershing continues to support our customers throughout this time to provide ongoing business processing,” the company said on its website. “As a BNY Mellon company, we have moved quickly to help those in need. Our priorities remain the safety and wellbeing of our employees, the security of our clients' financial assets and the continuity of our businesses.”

Industry advocacy organizations are also attuned to recovery efforts.

The Financial Planning Association is ready to support chapters and members in the affected areas "in any way we can,” FPA spokesperson Lynn Brackpool said Friday. “However, the first priority is to let the relief agencies do the work they need to help communities in crisis. Our members and chapters have a long history of pro bono assistance and working with local groups in situations like this. We have no doubt we will be able to provide needed support as soon as the efforts are ready for our assistance."